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Shiba Inu Price Steps Into Buy Zone ! Here Are The Entry And Exit Levels

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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May 10, 2022

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Today the Dogecoin killer Shiba Inu price has dropped by more than 14% in just 24hrs during the broader cryptocurrency market crash.

This year 2022, even the returns of SHIB were 50% below zero, marking one of the worst performances.

At the time of reporting, Shiba Inu is changing hands at $0.00001524 with a fall of 18% over the last 24hrs.

SHIB Holders Rise!

While the SHIB is facing a downfall, the SHIB holders are moving north, according to WhaleStats data. The data reveals that at present, the total number of SHIB holders stands at 1,146,486 whereas in April the number was at 1,139,916, and this increased holders’ interest is definitely a positive sign.

As Shiba Inu has declined by more than 15%, the SHIB has made the drop to the lowest levels so far in 2022.

The above chart shows that the Shiba Inu price is struggling at the support level of $0.000017 level, the range from where the price had seen a 100% surge in late January.

Earlier in January, Shiba Inu had dropped as low as $0.000017 due to a market crash even then and this continued for a few days before the price started its journey of the bull rally in February. In February, the price saw a jump of 100% hitting $0.0000354 on February 7th.

Whale Accumulates 56 billion Tokens

Whales usually take the advantage of market dips to accumulate their favorite digital currencies at discounted prices. Bombur, one of the ETH whales, has recently bought 56,946,679,217 SHIB or $1,070,028

Recently a report stated that Shytoshi Kusama, a Shiba Inu developer has made an announcement regarding a lot of exciting developments for the Shiba Inu space in the weeks and months to come.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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